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Binance deal gives Circle a boost in stablecoin race with Tether, analysts say
Binance has taken a US$100 million stake in Circle, and monthly USDC trading on the exchange has roughly doubled since the pair partnered in December 2024. CoinDesk asked three analysts whether that dents Tether’s lead. Gravity Team Co-Founder and CEO Mārtiņš Beņķītis saw more pressure on USDT, while pointing to Tether’s years of deep trading pairs, local liquidity and user habit. “But distribution alone won’t change that overnight,” he said.
Circle’s $400M Tazapay deal buys emerging market links that take ‘years to build’
Circle’s reported US$400 million acquisition of Singapore-based Tazapay buys the licences, banking relationships and local payout rails that turn a stablecoin into money people can spend. CoinDesk opened its analysis with Gravity Team Co-Founder and CEO Mārtiņš Beņķītis, who read the deal as “the latest signal that stablecoins’ next battleground is in emerging markets”, where those networks are built “market by market, relationship by relationship”.
